NEW YORK ( TheStreet) -- U.S. regulators rejected Thursday a tamper-resistant painkiller from Pfizer ( PFE) and Pain Therapeutics ( PTIE), according to U.S. Food and Drug Administration spokesperson Shelly Burgess.

Pain Therapeutics shares were tanking by 32.3% to $6.26, while Pfizer shares were down 0.5% to $20.55.

Southern Union ( SUG) soared in premarket trading after receiving an all-cash buyout proposal from Williams ( WMB) that values the natural gas pipeline company at $4.9 billion, or $39 a share. Southern Union shares were surging by 15.3% to $39.39.

Boise, Idaho-based Micron Technology ( MU) said it earned $75 million, or 7 cents a share, in the three months ended June 2. The average estimate of analysts polled by Thomson Reuters was for a profit of 16 cents a share. Micron shares were plummeting by 10.6% to $7.54.

Enterprise software company Blackboard ( BBBB) was popping by 4.2% to $42.50 after the Wall Street journal reported that the enterprise software company is in exclusive talks to be bought by Providence Equity Partners.

Database giant Oracle ( ORCL) earned 75 cents a share in the fourth quarter, excluding items, vs. the average analyst estimate of 71 cents a share. However, weak hardware sales pushed the company's stock down 4% to $31.15 in premarket trading.

Management consulting firm Accenture ( ACN) was spiking by 3.2% to $57.49 reporting third-quarter profit of 93 cents a share vs. the average analyst estimate of 90 cents a share.

Medical device company Boston Scientific ( BSX) was falling 1.4% to $6.99 on news that it was downgraded to neutral from buy at UBS.

Biopharmaceutical company Aegerion Pharmaceuticals ( AEGR) said 4.25 million common shares were priced at $15.50 a share. Shares were down 1% to $15.40.

Some of the biggest U.S. states have started antitrust investigations into internet search giant Google ( GOOG), adding to the mounting regulatory pressure on the search company as federal authorities move closer to a full-blown inquiry of their own, the Financial Times reported.

Shares were trading sideways at $480.

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-- Written by Andrea Tse in New York.

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